CMS ENERGY CORP
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $8.5B | $7.5B | $7.5B | $8.6B | $7.3B |
| Operating income | $1.7B | $1.5B | $1.2B | $1.2B | $1.1B |
| Interest expense | $789.0M | $708.0M | $643.0M | $519.0M | $500.0M |
| Pretax income | $1.2B | $1.1B | $954.0M | $902.0M | $823.0M |
| Income tax expense | $246.0M | $176.0M | $147.0M | $93.0M | $95.0M |
| Net income | $1.1B | $1.0B | $887.0M | $837.0M | $1.4B |
| Balance Sheet | |||||
| Cash and equivalents | $509.0M | $103.0M | $227.0M | $164.0M | $452.0M |
| Current assets | $3.5B | $2.8B | $2.8B | $3.4B | $2.6B |
| Total assets | $39.9B | $35.9B | $33.5B | $31.4B | $28.8B |
| Current liabilities | $3.5B | $3.5B | $2.9B | $3.0B | $2.2B |
| Total debt | $18.9B | $16.5B | $15.6B | $14.4B | $12.6B |
| Stockholders' equity | $9.1B | $8.2B | $7.5B | $7.0B | $6.6B |
| Cash Flow Statement | |||||
| Cash from operations | $2.2B | $2.4B | $2.3B | $855.0M | $1.8B |
| Depreciation and amortization | $1.3B | $1.2B | $1.2B | $1.1B | $1.1B |
| Capital expenditure | $662.0M | $517.0M | $265.0M | $2.4B | $2.1B |
| Free cash flow | $1.6B | $1.9B | $2.0B | -$1.5B | -$257.0M |
| Dividends paid | — | — | — | $546.0M | $509.0M |
Shares outstanding 308.9M · Free float 95.5%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.